FAQ
Frequently Asked Questions
NXTFUND specialises in mortgage management and provision of construction & business lending solutions secured by mortgage or caveat. Unlike a finance broker, we serve as the representative of our lender clients and have direct access to private lenders with innovative funding solutions for business loans rejected by traditional banks. As a mortgage manager, we do not offer financial advisory services. However, if you require the assistance of a finance broker or financial advisor for any reason, such as a lack of understanding or time to manage the loan process, we will gladly collaborate with any broker or advisor you choose to engage.
NXTFUND's network of lenders only provides financing to businesses and investors. To qualify for one of our business or construction loans, the funds must primarily be utilised for business or investment purposes, excluding residential investment.
NXTFUND boasts strong, long-standing connections with its private lender partners and an efficient lending process. There are few participants in the decision-making process, and we maintain direct and personal connections with each of them. Your loan request will not become bogged down in a bureaucratic banking system or get passed from one broker to another, saving you time and minimizing costs.
Loan amounts vary based on each application's circumstances. Typically, the minimum amount that our panel of lenders is willing to offer is $25,000, with some lending approvals reaching up to $20 million.
Our network of lenders' repayment terms can range from 1-36 months, contingent on the specifics of your business and funding needs.
We recognise that every business is unique and therefore, our repayment options are tailored to meet individual circumstances. You can choose to make repayments on a weekly, bi-weekly, or monthly basis. Certain lenders in our network offer discounted rates for repayments made on a principal and interest basis. You have the option to pre-pay or retain interest at settlement or have it capitalised over the loan term. Our aim is to provide you with a range of flexible lending solutions.
Our network of panel lenders provides financing secured by a registered mortgage or caveat on real property. With a lower risk for the lender, a secured business loan typically results in lower fees and interest rates compared to unsecured loans offered by many online lenders that often have hidden security in their contracts.
Our panel lenders provide financing for properties with a Loan to Value Ratio (LVR) of less than 75%, and in some cases may consider lending up to 80% LVR.
NXTFUND and our lenders require an exit plan to understand your repayment intentions. Options include utilising working capital, refinancing, collecting outstanding work/invoices, or selling the collateral property. Note that a sale of the security property generally offers the lowest interest rates among all exit strategies.
Private lending refers to the financing provided by private individuals or organisations who seek to earn a return on their investment. As traditional banks become more stringent with their lending criteria and processes, private lenders are stepping in to meet the growing demand for alternative funding options. They provide loans outside of the limitations set by banks and offer borrowers greater flexibility and personalised service.